Loading...
•
Sep 30, 2023
NJR Q4 2023 Earnings Report
NJR's fourth-quarter earnings decreased compared to the same period last year.
Key Takeaways
NJR reported a decrease in net income for the fourth quarter of fiscal year 2023, with earnings of $37.0 million, or $0.38 per share, compared to $54.5 million, or $0.57 per share, in the same period of fiscal year 2022. The company's NFE also decreased to $29.6 million, or $0.30 per share, from $47.9 million, or $0.50 per share, in the prior year. However, fiscal year 2023 showed solid contributions from a diversified business portfolio.
Net income for Q4 2023 was $37.0 million, or $0.38 per share.
Net financial earnings (NFE) for Q4 2023 were $29.6 million, or $0.30 per share.
NJNG reported a net financial loss of $(24.8) million for Q4 2023.
CEV reported net financial earnings of $50.2 million for Q4 2023.
Revenue by Segment
Forward Guidance
NJR introduced its fiscal 2024 NFEPS guidance range of $2.70 to $2.85, which represents 12.3% percent year-over-year growth over the midpoint of the originally provided fiscal 2023 guidance range of $2.42 - $2.52.
Positive Outlook
- Fiscal 2024 NFEPS guidance range of $2.70 to $2.85
- Represents 12.3% year-over-year growth over the midpoint of the originally provided fiscal 2023 guidance range of $2.42 - $2.52
- Energy Services will represent a higher percentage of NFEPS than in prior years
- New Jersey Natural Gas 40 to 45 percent
- Clean Energy Ventures 13 to 18 percent
Challenges Ahead
- Storage and Transportation 4 to 8 percent
- Energy Services 35 to 40 percent
- Home Services and Other 0 to 1 percent
- Differences between reported GAAP earnings and NFE due to matters such as, but not limited to, the positions of our energy-related derivatives.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...